Massachusetts State Attorney General Martha Coakley opposed the repeal concern, but says she welcomes allowing the voters to really have a voice on the problem. (Image: Boston World)
In Massachusetts, casino companies have actually faced a series of battles in order to build resorts in the state. There has been town-by-town campaigns to win over local communities, and in the way it is of the higher Boston area, a intense competition for just one license. Now, operators are going to have one more challenge ahead of those before they can rest simple: a statewide repeal vote that could end casino gambling in Massachusetts before it starts.
The Massachusetts Supreme Judicial Court ruled that voters will be able to see the casino law repeal question on a November ballot, potentially rolling back a 2011 law that legalized casinos in the state tuesday. That move leaves potential casino operators in an awkward position, whether they can actually do anything with them as they may receive licenses, but not know until later this year.
Unanimous Decision Puts Question on Ballot
The court reached their decision unanimously, pointing out that supporters of the repeal had succeeded in gathering more than enough signatures to place the relevant question on the ballot. The effort was indeed opposed by Massachusetts Attorney General Martha Coakley, now a Democratic candidate for governor, who rejected issue this past year because she feared it could break the property rights of casino owners and developers.
But after hearing of the choice, Coakley appeared to be fine because of the Supreme Judicial Court’s (SJC) decision.
‘I am pleased that the Supreme Judicial Court has ruled on this issue of great interest to voters in Massachusetts,’ Coakley said. ‘ I am pleased that they have made a decision that now lets this go right to the ballot. So we are working these days to certify the question.’
Coakley did add that she planned to vote from the proposition, as did Governor Deval Patrick.
‘It is exactly what it is,’ Patrick said. ‘I’m going to vote for keeping expanded gaming on the books. I think it’s a balance that is great exactly how we expand gaming and how we let our regional communities make decisions being suitable for them.’
Fierce Battle Expected
Polling in the issue is sparse so far. A Suffolk University poll earlier this found that only 37 percent of voters in Massachusetts approved of casinos, but another from the Boston Globe found that 52 percent of likely voters would still vote against a repeal month. The ground that is shaky which the casinos appears means that the repeal vote could come down to the campaigns on both sides.
While not all casino firms commented in the decision immediately, those that did said that they would work difficult to convince voters to allow casinos be built. Mohegan Sun released a declaration saying they would reveal to voters that the law was ‘good for employees, good for the economy and good for the commonwealth.’ Penn National, which has currently won the state’s only slots parlor permit, stated they would additionally be engaging in an informational campaign.
‘For us, this campaign will be about training, it’ll be about informing voters about most of the jobs that have reached stake here,’ said Penn spokesperson Eric Schippers.
Meanwhile, casino opponents are also gearing up for a fight. That may mean that lots of neighborhood anti-casino groups will be banded together to combat the expensive promotions the casinos are expected to run, with Repeal the Deal likely to be an opposition group that is leading.
Bwin.Party Not on the market, Says Board
Chief executive of bwin.party Norbert Teufelberger and his board deny rumors that the company is buying a sell-off (Image: onlinecasinoarchives.com)
Bwin.Party is denying rumors that it is looking for an purchase, or to sell off a number of its assets. The company was the topic of a flurry of speculation following an article this week by Bloomberg which claimed that it was looking to market off all or part of its business in order to revive its flagging fortunes.
Bwin.Party, through its relationship with the Borgata, may be the provider that is largest of online poker in brand New Jersey, with over 40 percent of the market share, but its operations have been faltering in European countries recently. The author of the Bloomberg piece, Christopher Palmeri, said that he had received the information from ‘two people with knowledge of the matter’ whom wished to stay nameless. Bwin.Party had hired Deutsche Bank AG (DBK) to consider its options, claimed the sources, and would make a decision within two months.
The company itself waded in to quash the rumors, stating categorically that the company is not for sale while Bwin.Party’s shares, which had been declining of late, climbed by 4 percent on the London Stock Exchange in the wake of the rumors.
No Plans to offer
‘The Board of Bwin.Party has noted the speculation that is recent the media regarding a possible break-up or purchase associated with the company,’ read the company’s official statement. ‘Since his visit as Chairman last thirty days, Philip Yea has been working with the executive management team on ways where the Group increases shareholder value, nonetheless we can confirm there are no plans to break-up or sell the company.’
Palmeri speculated in the Bloomberg article that the supposed sell-off had been prompted by way of a difficult 2013, which saw revenue across all gambling operations tumble 19 percent to €652.4m ($887,971,854).
He quoted a meeting with Bwin Chief Financial Officer Martin Weigold in March in which Weigold had blamed ‘regulatory and competitive challenges in lots of markets’ for the slump in income, and added that the business ended up being looking to ‘divest non-core and surplus assets.’
Palmeri also wondered if the purchase of PokerStars to Amaya Gaming and its prospective return to the US market had rattled Bwin.Party. PokerStars, he wrote, ‘could accelerate the wobbly start for online betting in three states, while introducing more competition for Bwin as well as others for people gamblers.’
2013 A Turning Aim
However, Bwin.Party, itself the product of a merger between pioneering online sportsbook and poker web sites Bwin and Party Poker, correspondingly, recently said that it had been very pleased with its poker operations in brand new Jersey, and that it could be looking to consolidate its market-leading position in there within the next 12 months, aswell as moving into other states that might legalize online gambling within their borders, such as for instance Pennsylvania which it described as a ‘significant business opportunity.’
Speaking in response to the company’s disappointing 2013, leader Norbert Teufelberger ended up being recently upbeat: ‘2013 was a challenging year for our business, but inaddition it marked a turning point he said as we increased our focus on regulated and to-be-regulated markets, began to roll-out new and refreshed versions of our mobile and desktop products, and commenced the transformation of our technology infrastructure through the adoption of the Agile development methodology. ‘Having streamlined the design and size of our business we now have the fundamentals to return our company to sustainable growth.’
PokerStars Could Return to New Jersey Market by Fall
Founders Mark and Isai Scheinberg, whose treatment from the PokerStars equation may facilitate an entry to the New Jersey market. (Image: onlinpokerreport.com)
PokerStars’ carefully orchestrated sale to Amaya Gaming for $4.9 billion looks like it might well pay off for the world’s poker site that is biggest. The ink was nevertheless running listed below on that $4.9 billion contract when brand New Jersey gaming officials announced that they had met with representatives from Amaya, and this week they told the Associated Press that they were optimistic that PokerStars can be able to become listed on the New Jersey market as early as this fall.
Papers in the Loop
Officials from the New Jersey Division of Gaming Enforcement (DGE), which regulates and licenses gambling in the state, said that Amaya has already begun submitting the necessary documents to nj-new Jersey regulators to utilize for a state license.
The division will be scrutinizing the post-acquisition corporate structure of the company, as well as the executive and management personnel and the software platform itself to make sure it’s in line with New Jersey regulatory standards in the coming months.
PokerStars has very long held designs on the New Jersey market. In 2013, anticipating legalization and legislation in the state, its parent company, the Rational Group, attempted to buy the ailing Atlantic Club casino in Atlantic City, in purchase to secure the acquisition of a state gaming license, and from there, it hoped, a license to work online poker after regulation. However, the deal fell through, and months that are several the Atlantic Club was forced to file for bankruptcy and lay off its 1,600 staff. It was sold in December for $23.4 million, to be stripped for parts.
The reason given for the deal’s collapse had been the concerns over outstanding indictments that are federal the company’s father-son founders, Isai and Mark Scheinberg. The indictments associated with PokerStars’ failure to cease offering gambling to American citizens after the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 had made it illegal to take action. After Ebony Friday, PokerStars paid a $547 million fine to your Department of Justice, which it hoped would absolve the Scheinbergs, however the issue flared up again when PokerStars attempted to use for a permit into the run up to legalization.
On 11, 2013, New Jersey’s Division of Gaming Enforcement (DGE) announced it would suspend its review of ‘Stars online gaming license for two years december. The DGE said in a statement that may have inspired the acquisition strategy
‘The Division (within the two-year period) may consider a obtain relief to reactivate the application if significantly changed circumstances are demonstrated…the Division’s investigation of PokerStars and its affiliated entities and connected individuals will be resumed to assess suitability.’
Having removed themselves through the equation by selling to Amaya, the Scheinbergs may at last witness the company they built return to the US.
However, at least into the situation of the latest Jersey, it is as a software provider, not an operator, much in the way that 888 Holdings provides software to Caesars and the WSOP.com brand. PokerStars includes a deal set up with Resorts World, which owns the Resorts Casino resort in Atlantic City. That relationship will remain intact, regardless of the purchase, and Resorts has said it intends to make use of both the PokerStars and FullTilt brand names should the outfit get the ability to do so.
‘We welcomed the announcement that is recent Amaya Gaming Group, Inc of its plans to obtain Rational which we expect will move the regulatory approval procedure forward,’ said Resorts Casino Hotel owner Morris Bailey. ‘PokerStars could be the leading world-wide brand in on the web gaming so we are searching forward to our future with them in brand new Jersey.’